United States
Canada (English)
United Kingdom
Ireland
Wider panel, more options
Access to a broader personal lines panel gives customers more choice and has lifted new business conversion.
Customer Story
Cornmarket Insurance is growing its personal lines on Applied Connect
Automated quoting, renewals and documents freed staff for more valuable work and lifted new business conversion.
Challenge
A heritage platform limited growth
Cornmarket Insurance trades in the Republic of Ireland. General insurance has always been part of its business, but personal lines had historically made up a small share of revenue, and the strategy was to grow personal lines significantly.
Its heritage IT platform stood in the way, however. It offered limited sophistication for handling ratings and underwriting, and the 50,000 policies it held needed manual updates and file uploads at every renewal cycle, which created a heavy workload.
Dublin, Ireland
Headquarters
3 Years
As an Applied Customer
Additional Info
Employees: 500
Offices: 4
Solutions
Solution
Automated personal lines distribution
Cornmarket moved to Applied Connect, a high-volume personal lines distribution platform, to automate personal lines quoting with full-cycle processing and auto-rebroke. “Our investment in Applied Connect plays a significant part in our ambitious growth strategy,” said Bourke. “It has allowed us to deliver broader coverage options and a premier online customer experience.”
With a sophisticated rating system and integrated online quote and buy, Cornmarket strengthened its distribution and diversified its panel. The change was one of Cornmarket’s biggest operational projects in two decades.
Applied Connect introduced full-cycle trading and automated document management and delivery. Cornmarket uses its rollover capability and renewal management processes to reduce manual intervention at the renewal offer stage. Renewal documents go out by email, SMS and outsourced mailshots, which has significantly reduced print and postage costs, and incoming mail is scanned directly into the platform.
Staff who once handled routine document work have been redeployed to more valuable roles, raising efficiency and productivity across the organisation.
How Applied Connect helps
Quoting, renewals and document handling run automatically on one personal lines platform, giving Cornmarket room to grow its book.
Renewals with less handling
Rollover and renewal management take manual steps out of the renewal offer stage of the policy lifecycle.
Paperless document delivery
Email, SMS and scanned incoming mail replace manual document handling and bring down print and postage spend.
Results
Higher conversion and stronger retention
“New business conversion is a metric that's improved radically with the addition of the broader personal lines panel that Applied brought to us, which has dramatically increased the options we can offer to customers,” said Bourke. “Since adopting Connect as our trading platform, we have seen a significant increase in our trading performance across all our distribution channels. This has been transformative for both our new business and retention metrics.”
Next, Cornmarket is working with Applied on a customer portal that will act as a document repository and offer self-service features. “When going through a business transformation journey, you need a partner who can provide a range of solutions encompassing business performance uplift, operational efficiency and the capability to add value for the customer,” said Bourke. “We believe we found that partner in Applied.”
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Grow your personal lines book
Talk with our team about automating quoting, renewals and document delivery for your brokerage with Applied Connect.